Batesville, Indiana Property Taxes
The median property tax rate in Batesville, IN is 0.80%, which is lower than both the national median of 0.99% and the Indiana state median of 0.99%. With a median home value of $260,600 in Batesville, the typical annual property tax bill amounts to $2,072, falling below the national median of $2,690. Property taxes in Batesville are calculated based on the tax assessed value, which is often less than the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Batesville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Batesville or another part of Franklin County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Batesville, Indiana Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.99%
Estimate Property Tax Bill
$1,980
Ownwell’s Batesville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Batesville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Batesville to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Batesville, Indiana
Property taxes in Batesville, Indiana, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Batesville is 0.80%, which is lower than the U.S. national median of 0.99%. Local government entities within Batesville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Batesville estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Batesville's effective property tax rate to other areas in Indiana and the national median. For comparison, the zip code 47006 has both the highest and lowest median property tax rate of 0.80%. Understanding how these cities compare with Batesville provides valuable insights into the varying tax landscape across Franklin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Batesville Tax Rate
0.80%
Average Franklin County Tax Rate
0.79%
Average Indiana Tax Rate
0.99%
Average United States Tax Rate
0.99%
Property Tax Rates Across Batesville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47006 | 0.55% | 0.65% | 0.80% | 0.90% | 1.19% |
Source: Ownwell
Property Tax Assessment Values Across Batesville, Indiana
In Batesville, Indiana, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Franklin County Assessor for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Batesville, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Batesville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in Batesville are both $2072 in zip code 47006.
Average Batesville Assessed Value
$260,600
Average Franklin County Assessed Value
$167,400
Average Indiana Assessed Value
$170,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Batesville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47006 | $145,300 | $187,700 | $260,600 | $347,300 | $457,900 |
Source: Ownwell
Property Tax Bills Across Batesville, Indiana
In Batesville, located in Franklin County, IN, property tax bills are calculated based on the assessed value of the home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. Homeowners in Batesville can expect a median property tax bill of around $2,072, which aligns with the median home price of $260,600. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. For instance, the tax bill at the 25th percentile is approximately $1,356, while at the 75th percentile, it rises to about $2,941. Those at the 90th percentile see a tax bill of around $4,140. These variations highlight how different property characteristics and market values impact the tax amount. Compared to the national median property tax rate of 0.99%, Batesville's rates result in a relatively moderate tax burden for homeowners. Understanding these factors helps residents anticipate their tax obligations and manage their finances more effectively.
Average Batesville Tax Bill
$2,072
Average Franklin County Tax Bill
$1,329
Average Indiana Tax Bill
$1,691
Average United States Tax Bill
$2,690
Property Tax Bills Across Batesville, Indiana
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 47006 | $836 | $1,356 | $2,072 | $2,941 | $4,140 |
Source: Ownwell